So my wife and I are getting educated on our options to do a flat out flip, a live in flip.0, or possibly a cash flow live in. I was thinking most agents make 3%+ on closing or showing the house. What are the perks of being the real estate agent for your own flips. Is there any one who started flipping then decide to get educated/certified to become a real estate agent?
My wife got her real estate agent's license so that we could sell our flips without having to pay an additional 3% fee to a seller's agent. We also get to collect 3% as a buyer's agent when we buy our rental properties which can help us get houses a little cheaper or put that money towards repairs.
Through all of our connections and networking, we have also been able to build up a steady following of investors looking for rental properties so whenever we come across something that maybe is not good enough for a flip but would make a great rental, she can act as a buyer's agent and make some extra cash that way.
On the con side of things, it really depends on how much time you have and whether you like being an agent. It can be a hassle dealing with buyers of your flip properties and is something that is easily outsourced if you want to focus on finding new properties or are doing the rehab work yourself. Sometimes good agents have a pool of buyers waiting for properties and they can get your house sold before it even goes on the market.
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